Omni-Lite receives follow-on orders from U.S. customer
Omni-Lite Industries Canada Inc.
October 19, 2006
Omni-Lite Industries Canada Inc. has received several follow-on orders in the aerospace division from a large customer in Southern California. In addition, this customer has moved up the delivery schedule for several orders originally planned for 2007. These orders will now be delivered in the fourth quarter of 2006. "The aerospace industry in the United States is continuing to grow at a steady pace. With new orders for both civilian and military aircraft mounting, the aerospace activities at Omni-Lite will continue to expand for the next several years," stated Paul A. Burkey, president and chief operating officer. "The precision equipment that Omni-Lite operates is providing clear advantages in the manufacturing of the complex components required to meet the needs of the large airframe manufacturers."
Omni-Lite is also pleased to announce that it received on Oct. 17, 2006, the four cold-forging systems ordered in late 2005. These machines were custom-built for a U.S. military project. Omni-Lite has recently completed the research and development efforts on the program. After the installation of required computer control systems, it is anticipated that these systems will be in full production in about two weeks.
To meet the rapidly growing demands of Omni-Lite's customers, the hours of operation at the Cerritos facility have been extended. The facility now opens at 4 a.m. and closes at 10:30 p.m. On Saturdays, the facility closes at 12 p.m.
In early October, the company was able to pay off the approximate $1.9-million (U.S.) mortgage on the Cerritos facility. This mortgage was in place for approximately three years.
Except for historical information contained herein this document contains forward-looking statements. These statements contain known and unknown risks and uncertainties that may cause the company's actual results or outcomes to be materially different from those anticipated and discussed herein.
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